ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system.

Detailed explanation-2: -The Federal Deposit Insurance Corporation (FDIC) is an independent federal government agency which insures deposits in commercial banks and thrifts. Federal deposit insurance is mandatory for all federally-chartered banks and savings institutions.

Detailed explanation-3: -A: Yes. The FDIC insures deposits according to the ownership category in which the funds are insured and how the accounts are titled. The standard deposit insurance coverage limit is $250, 000 per depositor, per FDIC-insured bank, per ownership category.

Detailed explanation-4: -The FDIC protects the money depositors place in insured banks in the unlikely event of an insured-bank failure. Each depositor is insured to at least $250, 000 per insured bank. FDIC deposit insurance covers all types of deposits held at an insured bank.